Arrive AI Inc. (NASDAQ:ARAI) Stock Short Interest Report for October

Arrive AI Inc. (NASDAQ:ARAI) was the recipient of a large decrease in short interest during the month of October. As of October 15th, there was short interest totaling 423,387 shares, a decrease of 71.4% from the September 30th total of 1,478,414 shares. Currently, 1.6% of the shares of the stock are sold short. Based on an average trading volume of 21,378,661 shares, the short-interest ratio is currently 0.0 days.

Arrive AI Stock Down 1.7%

Shares of NASDAQ:ARAI opened at $0.11 on Wednesday. Arrive AI has a 52-week low of $0.10 and a 52-week high of $5.35. The stock’s fifty day simple moving average is $0.20 and its 200-day simple moving average is $0.73. The company has a market capitalization of $5.71 million, a P/E ratio of -0.17 and a beta of 4.24.

Arrive AI (NASDAQ:ARAI) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.28) EPS for the quarter. The company had revenue of $0.01 million during the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Arrive AI in a research report on Tuesday. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Arrive AI has a consensus rating of “Hold” and an average target price of $12.00.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Arrive AI stock. Cygnus Capital Advisors LLC lifted its holdings in shares of Arrive AI Inc. (NASDAQ:ARAI) by 351.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 117,288 shares of the company’s stock after purchasing an additional 91,288 shares during the quarter. Cygnus Capital Advisors LLC owned about 0.23% of Arrive AI worth $50,000 as of its most recent SEC filing.

Arrive AI Company Profile

Arrive AI, Inc is a technology company focused on improving last-mile delivery through autonomous delivery infrastructure. Its platform is designed to connect delivery providers, autonomous vehicles and recipients while reducing the need for attended handoffs.

The company’s primary product is the Arrive Point, an intelligent, secure delivery mailbox intended for homes, businesses and other locations. The system is designed to receive packages from a range of delivery methods, including conventional carriers, autonomous vehicles and drones, and to provide secure access for recipients.

Arrive AI is also developing a broader network and software platform to support autonomous deliveries and coordinate package drop-offs.